Projects Alignment To Organizational Objectives

The importance of the right selection of benefits aligned to the business strategy will determine the rate of success of our portfolio, so when a company is not considering the benefits as main factor to drive their vision, maybe that company is going to be pivoting multiple times during its lifecycle. It is not uncommon to see companies changing their products, sector or even market because they realized the profit was driving them and not a clear target.

A good example is Samsung recognized as a multinational company creating modern technology and services, however, at the beginning was a grocery store and they changed their vision to be what it is today. Although, our main job is keep an eye on the target of each project within our organization and make sure they are following the strategy, but we should be integrating policies since the planning of those projects. For instance the goals should be clear, budget according to the original scope and the priorities are important for the team members.

The most important gain using benefit realization management is the measurements of progress during the execution of the benefits, in other words, we can quantitively justify the return of investment. Also, the company driven by well-planned benefits will be taking decisions based on the expectations of its vision.

As managers, we should be reporting our progress constantly and show how the projects are adding value to the business, at the same time, identify the projects with poor performance and make an accurate evaluation to remove them from the portfolio or not.